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rakeshmalik

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Malaysia Sept palm oil exports to fall amid defaults
11 Sep 2008 3:45 pm

Kuala Lumpur - Lower export taxes in Indonesia, ample stocks with buyers such as China and recent defaults by several importers in Asia may slow down Malaysia's palm oil exports in September after two successive months of significant rise.

Exports may fall to anywhere between 1.2 million and 1.3 million metric tons this month after reaching record levels of close to 1.5 million tons in August, traders said Thursday.

"Exports were sharply higher both in July and August. Such gains are unlikely to be sustained this month," said a Singapore-based broker.

He said in previous months Malaysia benefited from the high export taxes for palm oil in Indonesia, which may not be the case in September.

Global trading companies were sourcing large volumes of palm oil from Malaysia for supplying to importers.

Indonesia has now scaled down the taxes in line with the slump in global prices.

"China made heavy purchases in the run-up to the Olympics and seems to be well-stocked with vegetable oils," said a Kuala Lumpur-based executive at a global trading company.

Even last month, when Malaysia's overall palm oil exports were higher, China's purchases began to slow down.

Exports grew 4.6% on month but this increase was not due to China, said Alvin Tai, an analyst with OSK Research.

According to Malaysian Palm Oil Board data, Malaysia's palm oil exports to China in August fell 11.7% on month to 369,019 tons. China is Malaysia's largest palm oil buyer by volume.

Importers also generally tend to buy more volumes in the run-up to the Muslim holy month of Ramadan, which is usually followed by a slowdown in purchases.

Cargo surveyor Intertek Agri Services estimated a 1.7% fall on month in Malaysia's palm oil exports during the September 1-10 period. Another surveyor, SGS, estimated exports in the same period at 2.3% lower on month.

Shipments were lower to all major destinations, except India.

"Currently, the shipping lineup doesn't seem to be very impressive," said a Kuala Lumpur-based trading executive.

He said many buyers in south Asia and China were on the sidelines during the sharp fall in prices last month, adding there were also a renegotiation of prices.

He said this has disturbed the purchase schedule of importers and the usual September shipments may spill over to October.

Traders also caution if the slump in prices continues, it could trigger a fresh round of defaults by buyers.

Palm olein prices have fallen by around $50/ton in just three days. Buyers are reluctant to lock in supplies due to the uncertainty over prices.

"Just when it appeared that prices have bottomed out, they have recorded a sharp fall again," said a vegetable oils importer in Mumbai.
 

rakeshmalik

Well-Known Member
Oilseeds mixed on short-covering
11 Sep 2008 5:27 pm

Mumbai - Indian vegetable oilseed futures closed mixed with short-covering of recent heavy losses seen from early noon. The limited losses in global edible oil markets and expectation of demand picking up at lower levels helped the market to limit the losses.



The Malaysian palm oil futures closed down, but managed to recover from a 16-month low of MYR 2,275 a tonne and settle above MYR 2,300. The US soy complex was quoting up when the Indian markets opened. However, it moved down as the session progressed with December soy oil and November soybean quoting down by 31 point and 0.75 cents on e-CBOT when the Indian markets closed.



The energy markets moved down as the electronic session progressed with crude oil for October delivery at New York Mercantile Exchange quoting down by $ 0.56 at $ 102.02 a barrel at 17.00 hours IST.



Indian soybean futures closed mixed with short covering of the recent heavy losses seen, which helped the market to recover from early lows. The October contract had fallen in four of the five previous sessions and lost more than 7%. The limited losses in the global edible oil markets were also supportive. The weakening of Rupee to below 45 levels was also supportive as it could make imports of edible oils costlier.



However, current good condition of khariff oilseed crops, picking up of new soy arrivals, release of old stocks by stockists, high stocks of imported palm oil at ports and the approaching peak harvest season continued to pressurize the cash and future markets. The domestic industry is expecting this year’s khariff output to exceed last year’s due to improvement in area and current good condition of the crops.



The overall global picture has also turned highly bearish with huge supply boost expected in the coming months. US, India and China are expected to produce bumper soybean crops this season. The demand for new Indian soymeal has also fallen with buyers keeping away in anticipation of a further price fall.



The October soybean contract at National Commodity Derivatives Exchange [NCDEX] closed lower at Rs. 2,015.50 [- 5.50] per 100 kg with 1,67,990 tonnes traded. All other contracts closed up with November contract at NCDEX settling at Rs. 1936.50 [+ 24.00]. The October contract at National Board of Trade [NBOT] ended down at Rs. 2,016.50 [- 9.50] per 100 kg.



October CPO at Multi Commodity Exchange of India closed higher at Rs. 344.00 [+ 1.90] per 10 kg with 8,280 tonnes traded.

Crude Palm Oil [CPO] futures on Bursa Malaysia Derivatives [BMD] closed lower, but managed to settle off a 16-month low of MYR 2,275 a tonne. Selling pressure was reported to be high from global trading companies, who had to cover their commitments in the cash market. Traders were also expecting further defaults from buyers in the export market as market further fallen.

The benchmark November contract closed lower at MYR 2,309.00 [- 20.00] a tonne with 8,208 lots traded. [MYR=Malaysian Ringitt]



The US soy complex closed down on Wednesday with strength in Dollar, weakness in crude oil and near-term favourable weather prompting speculative selling. The threat of frost on the late-maturing crops has abated for the time being supporting the selling. The USDA will be releasing its September Supply Demand Reports on Friday and market is expected to be range-bound till then.



September soybeans settled 27 1/2 cents lower at $11.81 1/2 and November soybeans ended 23 cents lower at $11.76 1/2. December soymeal settled $8.20 lower at $325.80 per short ton. December soy oil finished 49 points lower at 48.32 cents per pound.



MUSTARD SEED



Mustard seed futures closed higher with short covering of the recent heavy losses seen in anticipation of demand picking up at lower levels. The active November mustard seed contract lost more than 9% in the previous five sessions. However, the sentiments were still weak with traders expecting further fall in prices when the peak khariff arrival and crushing season commences from late October.



Most active mustard seed November futures on NCDEX closed higher at Rs. 549.75 [+ 2.00] per 20 kg with 1,51,760 tonnes traded. The regional markets closed tad down with November contract at Hapur settling at Rs. 633.10 [- 0.10] per 100 kg.



CASTOR SEED



Castor seed futures closed lower with the market pressurized by the weak cash markets and persistence of soft tone in the edible oilseed markets. The strong improvement in acreage and expectation of increase in production over previous year levels were also keeping the sentiments negative. However, the weakening of Rupee and expectation of stocks tightening if exports pick up were limiting the losses.



Most active castor seed October futures on NCDEX closed lower at Rs. 609.10 [- 7.30] per 20 kg with 3,930 tonnes traded.



The regional markets closed down with December castor seed at Rajkot settling at Rs. 3,146.00 [- 39.00] per 100 kg.
 

rakeshmalik

Well-Known Member
Central govt won't impose local taxes, duties on biofuels
11 Sep 2008 3:00 pm

New Delhi - The Central Cabinet Thursday approved a biofuel policy under which the government aims to blend 20 per cent of automobile fuel with plant derived fuel by 2017.

"No taxes and duties should be levied on bio-diesels (fuel derived from non-edible oilseeds)," a government statement said.
 

rakeshmalik

Well-Known Member
Edible oils down on weak overseas mkt
13 Sep 2008 8:52 am


Mumbai - Mostly weak overseas edible oil prices and high domestic oilseed output prospects in the coming season starting October continued to weigh on India's edible oil prices during the week ended Friday.



Weak crude oil prices have aided a decline in edible oil prices globally, spilling over to domestic prices of the commodity.



Indian edible oil prices track mostly global trends as the country imports more than half of its annual edible oil demand of 12 million metric tons.



It buys palm oil from Malaysia and Indonesia, and soyoil from Argentina and Brazil.



A 2% rise in area under oilseed crop in the summer crop season to 17.65 million hectares has boosted prospects of a bumper crop and has pressured prices.



Planting of soybean, the main oilseed grown in the country, rose to 9.56 million hectares, up from 8.73 million hectares a year ago.



The new soybean crop will start arriving in the markets by the end of September and will boost availability of oil in the local markets.



Also, imports of edible oil by government-run agencies are adding to domestic supply. So far the government has placed orders for 312,000 tons of edible oils, out of which 224,000 tons have already been shipped, a government statement said.



A surge in edible oil prices due to reduced supply in the markets prompted the government to import edible oil and sell it to lower income households at subsidized rates.



Crude palm oil was at RS 34,500/ton, down from RS 37,500/ton a week ago.



Refined soyoil was at RS 56,500/ton, down from RS 58,000/ton a week ago.



Refined, bleached and deodorized palm olein was at RS 44,500/ton, down from RS 47,800/ton a week ago.
 

rakeshmalik

Well-Known Member
Oilseeds mixed; far-month soy dips
13 Sep 2008 10:54 am

Mumbai - Indian vegetable oilseed futures were trading tad mixed with the near-month soybeans and rapeseed quoting tad up supported by the overnight gains in US soy complex and in anticipation of strong festival at current lower levels in cash markets. However, far-month soybeans are quoting sharply down in expectation of the sharp increase in supply within a month.



The US soy complex closed higher on a supportive USDA report and weakness in US Dollar. The energy markets reduced the gains as the session expired with crude oil for October at New York Mercantile Exchange rising $ 0.31 to settle at $101.18 a barrel overnight.



Indian soybean futures are trading tad mixed with the near-month contracts supported by overnight gains in US soy complex and festival demand in cash markets. However, the weak domestic sentiments of the approaching peak arrival season have pushed the far-month contracts down and are limiting gains in the other contract. The USDA report is also not very supportive, despite the drop in US crop size; as it is expecting global supplies to increase and demand to slightly slow down.



The US Department of Agriculture in its monthly World Supply Demand reports has further lowered its estimate of the 2008 US soy crop to 2.934 billion bushels, down 39 million based on lower yields. However, ending stocks for 2008-09 have been left unchanged. Soybean exports for 2007-08 are projected at a record 1.155 billion bushels. Ending stocks are up 5 million bushels at 140 million.



Global oilseed production for 2008-09 is projected at 417.8 million tonnes, up 1.7 million from last month estimates. Global soybean production is projected at a record 238 million tonnes, up 9% from 2007-08. Argentina soybean production is raised to a record 50.5 million tonnes based on higher expected area. Global rapeseed production is raised 1.2 million tonnes to 53.4 million, an 11% increase over 2007/08. Global oilseed stocks for 2008-09 are raised 3 million tonnes to 60.4 million.



Domestically, the market is expecting the khariff crop to be slightly better than the previous year as India’s khariff oilseed acreage has risen by 2% over previous year’s to 17.65 million hectares. Planting of soybean has increased by 9.5% to 9.56 million hectares, up from 8.73 million hectares a year ago.



The new arrivals of soybean have commenced and are currently around 15,000 bags a day. During the peak arrival period commencing from mid-October, it can cross 1,00,000 bags a day and can bring down the prices heavily.



The October soybean contract at National Commodity Derivatives Exchange [NCDEX] at 10.35 hours is trading higher at Rs. 2,082.00 [+ 3.00] per 100 kg with 21,770 tonnes traded. The November contract at NCDEX is quoting down at Rs. 1,980.00 [-13.00] per 100 kg. The October contract at National Board of Trade [NBOT] is up at Rs. 2,084.00 [+ 8.00] per 100 kg.



October CPO at Multi Commodity Exchange of India is trading lower at Rs. 348.00 [- 1.20] per 10 kg with 280 tonnes traded.



The US soy complex closed higher on Friday supported by the trimming of US soy output in the USDA report. The continuation of near-term supply tightness was also supportive. The supportive fundamentals and weakness in the US Dollar helped the market to ignore the mid-session weakness in crude oil.



September soybeans settled $2.74 higher at $14.90 and November soybeans ended 26 cents higher at $12.02. December soymeal settled $4.30 higher at $334.50 per short ton. December soy oil finished 37 points higher at 47.99 cents per pound.

Crude Palm Oil [CPO] futures on Bursa Malaysia Derivatives [BMD] closed sharply up on Friday with benchmark November contract settling at MYR 2,380.00 [+ 71.00] a tonne. [MYR=Malaysian Ringitt]

MUSTARD SEED



Mustard seed futures are trading higher with short covering of the recent heavy losses seen supported by gains in domestic soybeans and overnight gains in US soy complex. The market is expecting strong festival demand from consumers in the upcoming weeks prior to ‘Durga Puja’ as prices have corrected sharply.



However, gains can be limited because selling pressure is expected to remain strong with traders expecting further fall in prices when the peak khariff arrival and crushing season commences from late October.



Most active mustard seed November futures on NCDEX is trading higher at Rs. 556.95 [+ 2.55] per 20 kg with 14,410 tonnes traded. The regional markets are down at Hapur quoting at Rs. 633.80 [- 0.30] per 100 kg.



CASTOR SEED



Castor seed futures is quoting tad up in thin trading with short-covering of recent heavy losses seen supported by the recovery in edible oilseed cash markets and weakness in Rupee. However, the castor seed sentiments are still weak on account of the increase in acreage over previous year’s. In addition, the revival of monsoon in Gujarat has added to the already weak tone of the market.



Most active castor seed October futures on NCDEX is trading higher at Rs. 609.80 [+ 0.80] per 20 kg with 70 tonnes traded.
 

rakeshmalik

Well-Known Member
USDA ups India soymeal exports 19pc; soybean output 1pc
15 Sep 2008 11:15 am

Singapore - The US Department of Agriculture (USDA) raised its projection of Indian soymeal exports 19 per cent in 2008-09 (October-September) from an earlier forecast on the back of an increase in output following good rains.

The USDA Friday said it expects the south Asian nation to ship 5.67 million metric tons of soymeal compared with 4.77 million tons estimated in August. Exports may still be lower than that of 6.02 million tons in 2007-08.

The report also attributed the rise to "competitive pricing and strong demand for oil meal in neighboring countries."

India is the world's fourth-largest soymeal exporter, after Argentina, Brazil and the U.S.

The department held its soybean production estimate at 9.2 million tons compared with 9.1 million tons made in August.

Good monsoon rains in late August and early September have boosted plantation of soybeans in India, which will be harvested in October, the report said. The production estimate is still lower than the 2007-08 output of 9.3 million tons.
 

rakeshmalik

Well-Known Member
Oilseeds lose 2pc on global cues
15 Sep 2008 1:35 pm

Mumbai - Indian vegetable oilseed futures were continuing to trade sharply down at noon with almost all contracts losing more than 2% tracking the weakness in global edible oil and energy markets. The weak domestic sentiments and expectation of further fall in prices as the supply increases in the future are adding to the selling pressure.



The Malaysian palm oil futures has lost more than MYR 100 a tonne and touched a new 2008 low of MYR 2,263 a tonne dragged by fall in exports and losses in crude oil. The US soy complex is also trading down with December soy oil and November soybean quoting down by 43 points and 7.75 cents on e-CBOT.



Crude oil made sharp losses in overnight special session with October contract at the New York Mercantile Exchange falling as much as $ 2.72 to a six month low of $ 98.46 a barrel. It is currently trading at $ 99.20 a barrel.



Indian soybean futures are trading sharply down with fresh selling and profit-booking being seen in response to losses in crude oil and global edible oil markets. The negative domestic sentiments of approaching peak arrivals season and good stocks of imported oils at ports are also adding to the selling pressure. The rise in monthly August imports has also weakened the sentiments.



Crude oil moving below $ 100 a barrel is leading to the heavy selling in the global edible oil markets. Fall in crude oil prices can reduce the utilization of edible oil for bio-fuel purposes.



India has imported 5,69,538 tonnes of edible oil in August, up 21.4% on year from 4,69,234 tons, driven by higher palm oil imports as estimated by Solvent Extractors’ Association of India. Imports in August are also 7% higher than July as most of the domestic oilseed crop has been crushed. In the oil marketing year, that began last November, edible oil imports as of August totaled 4.2 million tonnes, up from 3.8 million tonnes a year earlier.



In addition, the market is expecting the khariff crop to be slightly better than the previous year as India’s khariff oilseed acreage has risen by 2% over previous year’s to 17.65 million hectares. The new arrivals of soybean have commenced and are currently around 15,000 bags a day. During the peak arrival period commencing from mid-October, it can cross 1,00,000 bags a day and can bring down the prices heavily.



The October soybean contract at National Commodity Derivatives Exchange [NCDEX] at 13.30 hours is trading lower at Rs. 2,086.00 [- 37.00] per 100 kg with 69,190 tonnes traded. The October contract at National Board of Trade [NBOT] is down at Rs. 2,086.00 [- 42.50] per 100 kg.



Most active mustard seed November futures on NCDEX is trading lower at Rs. 558.00 [- 12.65] per 20 kg with 65,470 tonnes traded. The regional markets are down at Hapur quoting at Rs. 637.00 [- 2.40] per 100 kg.



October CPO at Multi Commodity Exchange of India has breached the first circuit filter of 2% and is trading lower at Rs. 340.50 [- 10.10] per 10 kg with 2,870 tonnes traded.

Crude Palm Oil [CPO] futures on Bursa Malaysia Derivatives [BMD] is trading sharply down with sentiments affected by crude oil moving below $ 100 a barrel. The dull September 1-15 exports are also adding to selling pressure.

Cargo surveyor SGS has estimated Malaysia’s palm oil exports during September 1-15 period down 5.8% at 6,05,786 tonnes against traders’ expectations of 625,000 tonnes. SGS number also lower than estimate by another cargo surveyor, Intertek, which pegs September 1-15 exports at 616,138 tonnes.

The benchmark November contract is trading down at MYR 2,274.00 [- 106.00] a tonne with 6,271 lots traded. [MYR=Malaysian Ringitt] [1 lot=25 tonnes].
 

rakeshmalik

Well-Known Member
Aug edible oil imports up 21.4pc
15 Sep 2008 11:06 am



Mumbai - India imported 569,538 metric tons of edible oil in August, up 21.4 per cent on year from 469,234 tons, driven by higher palm oil imports, the Solvent Extractors' Association of India said Monday.

Imports in August were also 7 per cent higher than July as most of the domestic oilseed crop has been crushed, the data showed.

Crude palm oil imports in August totaled 359,199 tons, up from 276,151 tons in the year-earlier period.

In the oil marketing year that began last November, edible oil imports as of August totaled 4.2 million tons, up from 3.8 million tons a year earlier, the data showed.

The country's total vegetable oil imports for November-August showed an 11 per cent on-year rise to 4.8 million tons.

While crude palm oil imports during the period rose 37 per cent to 3.26 million tons, soyoil imports declined by 52 per cent to 505,984 tons from 1.05 million tons a year earlier.

Palm oil is trading $245-$345/ton lower than soyoil, due to which demand is strong for the former.

Refined, bleached, and deodorized palm olein imports during the November-August period rose to 398,342 tons, up sharply on year from 93,502 tons.

During August, the country imported 115,170 tons of RBD palm olein, up from 13,919 tons during the year-earlier period "mainly due to government buying for the public distribution system," said the trade body.

India's federal government, in a bid to curb rising prices of edible oils in the domestic market and improve supplies, is planning to import 1 million tons of the oils and sell them to lower-income households at subsided rates.

So far, the government has placed orders for 312,000 tons of edible oils, most of which are for palm oil products.

Around 224,000 tons have already been shipped in so far, a government statement said.

India imports palm oil from Malaysia and Indonesia and soyoil from Brazil and Argentina.
 

rakeshmalik

Well-Known Member
Spot Soya oil prices - Sep 15
15 Sep 2008 1:19 pm

Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Soy oil
15/09/08
13/09/08


Min
Max
Min
Max

Mumbai
562
563
560
561

Indore
555
556
555
556

*Akola
595
596
595
596

*Amravati
590
591
597
598

Chennai
580
581
585
586

*Kolkata
630
631
640
641

Hyderabad
585
586
592
593

*Jalana
590
591
595
596

Kakinada
565
566
562
563

Kandla
560
561
550
551

*Kanpur
590
591
590
591

*Latur
572
573
585
586

Manglore
590
591
590
591

*Nagpur
605
606
603
605

*Nandad
570
571
587
588

Rajkot
550
560
550
560

*Solapur
574
575
585
586
 

rakeshmalik

Well-Known Member
Oilseeds recover on short-covering
16 Sep 2008 5:20 pm

Mumbai - Indian vegetable oilseed futures recovered from early losses and closed mixed with near-month contracts settling moderately up on short-covering of recent heavy losses, firm spot markets, weakness in Rupee and some stability in crude oil. However, the gains were highly limited by the overall bearish tone and the losses in global edible oil, energy markets.



The Malaysian palm oil futures closed sharply down, but off session lows with the market worried over the heavy losses in US soy oil and crude oil. The US soy complex closed down overnight and it was quoting down in the after-hours session too with December soy oil and November soybean quoting down by 102 points and 20.50 cents on e-CBOT.



The energy markets reduced losses as the session progressed with October crude oil at the New York Mercantile Exchange quoting down by $ 3.41 at $ 92.30 a barrel at 17.00 hours against the intra-session low of below $ 91.54 a barrel.



Indian soybean futures closed mixed with near-month contracts settling tad up with short-covering of early heavy losses seen supported by reduction of losses in crude oil, global edible oil markets and stable cash markets. However, the overall bearish tone in the domestic markets and the significant losses in the referral markets ensured that the gains were very nominal.



The Indian markets had opened sharply down with heavy selling being seen for the second successive session in response to the huge losses in global energy and edible oil markets. The markets were preparing for a second session of huge losses, when crude oil stabilized and even managed to recover some of the losses. This prompted players to cover short positions in the Indian futures market too. Weaker Rupee at 46.9 levels against the US Dollar was also supportive as it makes edible oil imports more costly.



Anticipation of strong festival demand in the cash markets at the current highly corrected prices, limited the slide in the cash markets, which was also supportive. Markets were also expecting that increase in bio-diesel output and export demand could help the global edible oil prices to recover in the next couple of sessions.



However, despite the moderate recovery the far-month contracts still ended in the red, in expectation of local prices crashing further when the new soy crop arrivals peak from first week of October and cross 1,00,000 bags a day. Rise in India’s edible oil imports and high stocks at ports could also add to the supply pressure.



The October soybean contract at National Commodity Derivatives Exchange [NCDEX] closed higher at Rs. 2,061.50 [+ 1.00] per 100 kg with 1,32,370 tonnes traded. November contract at NCDEX closed down at Rs. 1,920.50 [- 3.50] per 100 kg. The October contract at National Board of Trade [NBOT] closed up at Rs. 2,064.50 [- 3.50] per 100 kg.



October CPO at Multi Commodity Exchange of India breached the first lower circuit of 2% and closed down at Rs. 331.40 [- 8.30] per 10 kg with 10,110 tonnes traded.

Crude Palm Oil [CPO] futures on Bursa Malaysia Derivatives [BMD] closed sharply down, but managed to recover from a fresh 17-month low, tracking the huge losses in crude oil. Reports of defaults in the cash market by buyers also weakened the sentiments.

The benchmark December contract after touching a low of MYR 2,077, closed down at MYR 2,120.00 [- 129.00] a tonne with 15,021 lots traded. [MYR=Malaysian Ringitt] [1 lot=25 tonnes]

The US soy complex closed down on Monday affected by the heavy losses in crude oil, strength in US Dollar and fear of economic slowdown lowering demand. However, the markets was able to limit losses from weekend floods that could delay the harvest of already late maturing crops in parts of the Midwest and carryover support from Friday's crop reports revealing smaller yields.



November soybeans ended 23 cents lower at $11.79. December soymeal settled $1.30 higher at $335.80 a short ton. December soy oil finished 143 points lower at 46.56 cents a pound.



MUSTARD SEED



Mustard seed futures closed flat with short-covering of the heavy losses made yesterday seen supported by reduction of losses in crude oil and stable cash markets. The market was seeing strong festival demand by consumers in the cash markets as the prices had corrected very sharply. At the same time, the availability of rapeseed was tight, due to the lower production this season.



However, the gains were highly limited by the highly bearish tone in global markets and anticipation of demand for mustard oil thinning out when peak khariff arrival and crushing season commences from October.



Most active mustard seed November futures on NCDEX closed unchanged at Rs. 551.90 [0.00] per 20 kg with 1,46,890 tonnes traded. Other contracts closed up. The regional markets ended down with November contract at Hapur settling at Rs. 638.60 [+ 2.20] per 100 kg.



CASTOR SEED



Castor seed futures closed higher with short-covering of losses seen in response to the reduction of losses in crude oil and edible oilseeds. The weakness in Rupee to a two-year low of 46.9 against the US Dollar and the high quotes for castor oil in global markets despite the current low demand was also supportive.



Most active castor seed October futures on NCDEX closed higher at Rs. 613.40 [+ 4.70] per 20 kg with 2,110 tonnes traded.



The regional markets too closed up with December contract settling at Rs. 2,979.00 [+ 46.00] per 100 kg.
 
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